According to analysts, Elon Musk, the CEO of Tesla and SpaceX, has been a key proponent in the recent surge of interest in dogecoin, as he consistently tweets about the cryptocurrency.
Musk, however, had a new message for his 53 million Twitter followers ahead of his appearance on “Saturday Night Live” on May 8: “Cryptocurrency is promising, but please invest with caution!”
Musk also shared a video from a February interview with TMZ in which he expressed the same sentiment.
Cryptocurrency is promising, but please invest with caution! https://t.co/A4kplcP8Vq
— Elon Musk (@elonmusk) May 7, 2021
“People should not invest their life savings in cryptocurrency, to be clear,” Musk told TMZ. “That’s unwise.” But, he said, “if you want to speculate and have some fun — there’s a good chance that crypto is the future currency of Earth. Then it’s like, which one is it going to be? Maybe there will be multiple. But, it’s all speculation at this point.”